Up to a million Canadians would struggle to cope with a 1 per cent rise in interest rates with 700,000 at risk from even a 0.25 per cent rise

Home sales jumped by a quarter in Edmonton last month but were down almost 3 per cent compared to May 2016.

Realtors Association of Edmonton reported that average prices remain subdued with single-family homes up just 0.26 per cent year-over-year to $440,907 with decreases for condos (down 0.67 per cent to $250,818) and duplexes/rowhouses (down 1.52 per cent to $344,406).

“We are in the middle of our busiest season for real estate,” says James Mabey, Realtors Association of Edmonton Chair. “More sellers are entering the market and are motivated to move their properties before the summer months, which provides the best selection of properties for buyers who are actively looking and taking advantage of the increased number of listings typical for this time of year.”

New listings were up 15 per cent while active inventory was 4.3 per cent higher than May 2016.